Discovery Communications, Inc. (DISCA) Short Interest Update
Discovery Communications, Inc. (NASDAQ:DISCA) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 37,383,248 shares, a growth of 8.3% from the August 31st total of 34,506,997 shares. Approximately 24.8% of the company’s stock are short sold. Based on an average daily volume of 4,510,606 shares, the days-to-cover ratio is currently 8.3 days.
Shares of Discovery Communications (NASDAQ DISCA) opened at 21.29 on Friday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 11.29 and a beta of 1.59. Discovery Communications has a 12-month low of $20.14 and a 12-month high of $30.25. The company’s 50-day moving average price is $22.52 and its 200 day moving average price is $25.91.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Discovery Communications will post $2.24 EPS for the current fiscal year.
In other Discovery Communications news, CFO Gunnar Wiedenfels purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares in the company, valued at approximately $460,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director S Decker Anstrom purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 55,000 shares of company stock valued at $1,243,300 over the last 90 days. 6.81% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after acquiring an additional 3,230 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Discovery Communications during the 2nd quarter valued at approximately $133,000. Ameritas Investment Partners Inc. purchased a new stake in Discovery Communications during the 1st quarter valued at approximately $182,000. Horizon Investment Services LLC purchased a new stake in Discovery Communications during the 1st quarter valued at approximately $202,000. Finally, Canada Pension Plan Investment Board raised its stake in Discovery Communications by 38,783.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,999 shares of the company’s stock valued at $204,000 after acquiring an additional 6,981 shares during the last quarter. 45.84% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on DISCA. Wells Fargo & Company began coverage on Discovery Communications in a research note on Thursday, July 20th. They issued a “market perform” rating and a $28.00 price target for the company. Royal Bank Of Canada set a $32.00 price target on Discovery Communications and gave the company a “buy” rating in a research note on Monday, June 12th. Credit Suisse Group reiterated an “underperform” rating and issued a $24.00 price target on shares of Discovery Communications in a research note on Saturday, July 22nd. BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $28.00 price target on shares of Discovery Communications in a research note on Friday, June 16th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. Discovery Communications currently has a consensus rating of “Hold” and an average target price of $27.27.
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About Discovery Communications
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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